One of London’s highest ranked hotels “The Ritz” has not paid any corporation tax for 17 years.
An investigation has revealed one of London’s highest ranked hotels “The Ritz” has not paid any corporation tax for 17 years, since it was taken over by billionaire twins known as the Barclay brothers.
This comes as a state-television investigative program called Panorama, analysed the accounts of the Ritz hotel bought by the Barclay brothers in 1995.
The accounts revealed that the profitable hotel has used a series of tax reliefs to lower its corporation tax to zero.
Conservative MP Nadine Dorries said, "They're incredibly wealthy men who don't pay British tax. I think it is just utterly appalling."
But Sir David Barclay and Sir Frederick Barclay claim they have not had anything to do with their UK companies since they retired to Monaco more than 20 years ago.
"We have not attended office, management or board meetings in the UK since leaving the country," Sir David Barclay said in a statement. "My brother and I have no editorial, political or economic power in the UK."
Moreover, other wealthy companies such as Starbucks, Google and Amazon were accused of avoiding income taxes.
Campaigners held protests outside dozens of Starbucks coffee shops across Britain over the chain’s tax avoidance, temporarily disrupting its business on one of its busiest end-of-the-year days.